All the prices are still 23% to 35% above the 2008 release prices. By mid-morning Beychevelle and Issan had emerged. Saint Julien-based Beychevelle dropping 10% to €40.8 p/b, while Margaux’s d’Issan came down 13% from €32 to €28.

After a mid-May break, releases began again this week with Smith Haut Lafitte and Pichon Baron.

However, Pichon Baron was roundly criticised for its 10% drop, which Liv-ex pointed out left it the same price as 2011 and 2008 – and therefore lacking a compelling reason to buy.

Aside from the Right Bank properties, which after positive reviews can afford to bide their time a little longer, there are still several big name Left Bank châteaux still to release including Montrose, Cos d’Estournel and Léoville Las Cases.

How long will it be before they emerge and is this campaign going to limp on into June?

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